An
ordinance approving a contract between the Metropolitan Government of Nashville
and Davidson County, acting through the Metropolitan Traffic and Parking Commission,
and the Nashville Downtown Partnership, whereby the Nashville Downtown Partnership
agrees to manage the Parking Facilities under the jurisdiction of the Metropolitan
Government Department of Public Works, Parking Division.

Whereas, the Nashville Downtown Partnership (“Partnership”) wishes
to manage the public parking facilities of the Metropolitan Government of Nashville
and Davidson County (Metropolitan Government) in order to support the economic
vitality of Downtown Nashville by offering affordable, user-friendly parking
options that meet the needs of both the short-term retail user and the long-term
tenant user; and

Whereas, the Partnership
agrees to guarantee that the net operating revenue generated by the parking
facilities will not decline from the net operating revenue generated in Fiscal
Year 2002; and

Whereas, any surplus revenue,
above the net operating revenue generated, will be maintained by the Metropolitan
Government in a separate fund. This surplus revenue shall be allocated equally
between the Metropolitan Government and the Partnership for projects or activities
on behalf of the Partnership to improve the downtown area; and

Whereas, the Metropolitan
Traffic and Parking Commission has voted to approve this contract; and

Whereas, it is to the benefit of the citizens of The Metropolitan Government
of Nashville and Davidson County that this grant be accepted.

Now, therefore, be it enacted by the Council of The Metropolitan Government
of Nashville and Davidson County:

Section 1: That the contract by and between the Metropolitan Government of Nashville
and Davidson County and the Nashville Downtown Parntership is hereby approved.

Section 2: That any amendments to this contract shall be approved by resolution
of the Metropolitan Council receiving twenty-one (21) affirmative votes.

Section 3. That this ordinance shall take effect from and after its final passage,
the welfare of The Metropolitan Government of Nashville and Davidson County
requiring it.

By amending Exhibit 1 to
the Contract the financial document attached hereto; and

By adding the following
provisions to the end of said Section:

“Any provision in
the contract to the contrary notwithstanding, no renewal or extension of this
contract shall be effective unless and until the same be approved by resolution
adopted by the Metropolitan Council with twenty-one (21) affirmative votes.”